Finance Act 2002 (c. 23)

SCHEDULES

SCHEDULE 12 U.K. Tax relief for expenditure on research and development

Part 1 U.K. Entitlement to relief for R&D expenditure: large companies

Qualifying R&D expenditure U.K.

3 For the purposes of this Schedule the company’s “qualifying R&D expenditure” is—

(a) its qualifying expenditure on direct research and development (see paragraph 4),

(b) its qualifying expenditure on sub-contracted research and development (see paragraph 5), and

(c) its qualifying expenditure on contributions to independent research and development (see paragraph 6).